Xact Aid, Inc. Changes Name to China Premium Lifestyle.HONG KONG Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. -- Xact Aid, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :XAID), today announced that the Company has filed a Definitive Information Statement on Schedule 14c for a change of the Company's name to China Premium Lifestyle Enterprise, Inc. The Company will announce the new trading symbol Trading symbol See: Ticker symbol for the Company's common stock as soon as it is assigned by NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on . "This change provides for improved branding and a more appropriate description of the Company's business and operations," said Richard Lee, Chairman. China Premium Lifestyle Enterprise, Inc. is in the business of bringing luxury goods to China. The Company, through its 49%-owned entity, is a Ferrari and Maserati distributor and dealer in Hong Kong and China respectively. "Our strategy is to use the base of our super luxury car business to further develop a premium brand platform for China, which is timed to coincide with the explosion of Chinese consumer spending," explained Mr. Lee. He noted that this is particularly being apparent in the luxury goods sector. In addition to the name change, the Schedule 14c also includes the Company's intention to increase the Company's authorized shares Authorized shares Number of shares authorized for issuance by a firm's corporate charter. of capital stock from 200 million to 500 million, consisting of 400 million authorized shares of common stock and 100 authorized shares of preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . There are currently 26,929,180 shares of common stock outstanding. Forward-Looking Statements: The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 provides a safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for forward-looking statements made on behalf of the Company and its subsidiaries. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by the Company may differ materially from these statements due to a number of factors. Any forward-looking statements speak only as of the date made. Statements made in this document that are not purely historical are forward-looking statements, beliefs, plans, expectations, or intentions regarding the future. Risk factors that may cause results to differ from projections include, without limitation, loss of suppliers, loss of customers, inadequate capital, competition, loss of key executives, declining prices, and other economic factors. The Company assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions. |
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